MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) want local financial institutions to learn key lessons from one of Indonesia’s largest banks in a bid to give so-called unbanked Filipinos greater access to the digital economy through the use of satellite internet technology.
In a press briefing, BSP Governor Benjamin Diokno held up the business model of Bank Rakyat Indonesia — which specializes in small-scale and microfinance banking for over 30 million clients — as a success story that can be replicated locally through the newly approved broadband internet delivery method.
“In the case of Bank Rakyat, the bank was able to deploy 51,000 antennas or teleports to conne…
Keep on reading: BSP wants PH banks to copy Bank Raykat Indonesia’s financial inclusion model